Red Hat Inc. (NYSE:RHT)’s share price gapped down prior to trading on Monday . The stock had previously closed at $72.64, but opened at $72.94. Red Hat shares last traded at $73.75, with a volume of 1,095,200 shares traded.

A number of research firms recently commented on RHT. Stifel Nicolaus restated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. Robert W. Baird reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. Raymond James Financial Inc. reiterated a “buy” rating on shares of Red Hat in a report on Thursday, June 23rd. Needham & Company LLC reiterated a “buy” rating and set a $98.00 price target on shares of Red Hat in a report on Thursday, June 23rd. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $88.00 price target on shares of Red Hat in a report on Thursday, June 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company. Red Hat presently has a consensus rating of “Buy” and a consensus price target of $87.72.

The company has a market capitalization of $13.36 billion and a P/E ratio of 64.69. The stock has a 50-day moving average of $73.97 and a 200-day moving average of $73.38.

Red Hat (NYSE:RHT) last announced its quarterly earnings data on Wednesday, June 22nd. The open-source software company reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $567.90 million for the quarter, compared to the consensus estimate of $562.76 million. Red Hat’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts predict that Red Hat Inc. will post $2.21 earnings per share for the current fiscal year.

In other Red Hat news, EVP Delisa Alexander sold 2,395 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $72.83, for a total value of $174,427.85. Following the completion of the transaction, the executive vice president now directly owns 60,780 shares in the company, valued at $4,426,607.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Cunningham sold 10,000 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the executive vice president now owns 52,484 shares of the company’s stock, valued at $3,936,300. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Red Hat stock. BlackRock Advisors LLC boosted its stake in shares of Red Hat Inc. (NYSE:RHT) by 43.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,072 shares of the open-source software company’s stock after buying an additional 50,714 shares during the period. BlackRock Advisors LLC owned 0.09% of Red Hat worth $13,918,000 at the end of the most recent reporting period.

Red Hat, Inc (Red Hat) provides open source software solutions, using a community-powered approach to develop and offer operating system, virtualization, management, middleware, cloud, mobile and storage technologies. Red Hat operates through three geographical segments: the Americas, including the United States, Canada and Latin America; EMEA, including Europe, Middle East and Africa, and Asia Pacific.

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